One of the country’s leading charities has strongly called on the Government to introduce rent stricter controls in order to stabilise the market.
The latest call comes from the Peter McVerry Trust who say the current supply problems and high rents are worrying and in turn are leaving many people homeless. The charity’s CEO Pat Doyle has said the current situation it is way out of control. Mr Doyle said: “We’ve seen rents going up 36% in Dublin since 2011, that’s 17 times greater than the consumer price index, so that is way beyond market rent. That is out of control now.” He went onto say: “There’s no way that social protection can keep up with that, there’s no way that low-paid and vulnerable families, and young people coming out of care can keep up with those rent increases.”
The latest call has come after recent figures suggest that rent prices have risen by 25% across the country and by more than a third in Dublin since 2011.